Marketing a simulated second skin isn't like marketing shoes - is it?
We don't think it is.
Marketing legendary Australian biomedical advances like Cochlear's The Bionic Ear, ResMed's CPAP mask and Spray-on Skin for burns takes a very special type of marketing, we think. It's what we love and it's what we do. (Read more about the role of marketing for these 3 legends.)
We love Australian inventions – in Biomedical and other areas of 'high technology'. We’ve helped many Australian Biomedical companies with their marketing; helping them compete and win in global markets, by focusing them on what they do best, since 2004. (Read more in The Australian Technology Marketing Blueprint or get a quick overview below.)
Over the years, we’ve seen many Australian Biomedical companies face some or all of these marketing challenges:
Do any of these ring any bells with you? If they do, read on for how to overcome them.
It’s common for biomedical companies to seek help in marketing from external agencies; after all brilliant biomed innovation is your speciality, not marketing, perhaps. Yet, it’s also common to find that generalists in marketing can't provide much help: marketing a simulated second skin is nothing like marketing shoes or handbags. You might also have contracted a handful of external specialists in various marketing disciplines, and been disappointed there too.
Unless you happen to strike someone who knows your patch, you could end up with tools that don’t explain your technology's incredible edge, or shorten your trial periods, or engage the sort of investors you seek. - and you could spend a lot before you discover this.
We’ve worked exclusively with Australian Biomed, Biotech and other hi-tech companies for over a decade. Our clients range from small companies like Microskin to established players like Pathrec and Benitec Biopharma. See if we're a good fit for you. Understanding and translating complexity so business people understand it, is what we do.
Our unique approach combines the following:
creating a robust methodology called The Technology Trinity, which helps Aussie technology companies pick the markets they can dominate and win, not just participate in. The Technology Trinity has 3 vital components:
Let's look at each in brief. The full details are in The Australian Technology Marketing Blueprint.
Your biomedical innovation probably has many possible markets, but
do you want to risk a lot of money trying to break into them all - and win just a small percent? Let's imagine the global market worth $1 billion; going by the maths, are you better off with 0.001% of the
whole or 80% of just 1% of it?
There is a better way: find the uncontested space where your biomedical product is the clear winner, and spend your money dominating it. Apart from reducing your marketing spend, you can become the thought leader - if you focus only where your technology is the clear winner. That leaves your competitors fighting over tiny percents of the whole market.
For instance, Benitec's gene silencing technology was once easily confused with a host of other RNAi-based therapeutics. At the time, RNAi had not delivered on its promise and many big pharmas has entered then exited the market. It was vital to differentiate. Our task was to reposition the company so its advantage - its technology was based on DNA not RNA - over all competitors clear and sustainable. The RNAi market has since recovered, and Benitec is a now recognised leader, despite having competitors many time's its size.
Over 10 years of working with Aussie biomedical and other hi-tech companies, we’ve developed a process called the Hi-Tech Position Prism to help define the uncontested market space where your innovation can shine, where you can become the thought leader, and win against any technology competitor. It's the first step in the Technology Trinity. Read more in the blueprint.
In biomedical markets as everywhere, your targets (be they potential technology buyers, partners or investors) are being bombarded from all directions. They're becoming irritated and pulling down the shutters to everyone they don't know and trust. This a huge opportunity for smart marketers.
You can become a rare source of trusted content, if what you create and send is consistently useful, relevant and timely and speaks to your targets in their own language. If your targets are investors or the media, you can't dazzle them with science; they'll just tune out and unsubscribe. If you can cut through to them with content they want and speak to them in language they understand, you can become the thought leader in your patch, regardless of how big your competitors are.
The second step in the Technology Trinity is the Hi-Tech Content Concentrator, which helps you match your content to your targets by persona and stage of their buyer journeys at which they are. It's all about giving your targets what they want when they need it, not sending one missive to all in an email blast. This involves the principle of Atomisation (first defined by Velocity Partners in 2011) or breaking your content into many forms for multiple markets and media. It's also the best way to gain high ROI on your marketing.
As biomedical development is probably your focus not marketing it, you
need a marketing process that delivers the right type of enquiries, a sort of automated growth engine. Ideally, this your growth engine
reach top gear quickly and then cruise with little effort or fuel, so you can get back to business. Read more in the blueprint
We’ve developed a process to do this called the Hi-Tech Growth Generator. It's the third stage in the Technology Trinity and enables you to:
The Technology Trinity has been developed, tested and proven, over a decade with Australian biomedical and other hi-tech companies. It works.
You can learn all about our methods and thinking by accessing the complimentary Australian Marketing Blueprint. Please select the one for Biomed & Biotech. If you'd like what you read, see if we're a good for for you and contact us to discuss Opportunities, Obstacles & Options for your Biomedical product or service. You're sure to discover insights you can use right now.
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